Precious Metals Preview: Gold Continues To Stay Under Pressure

24 Aug 2022 , 08:38 AM

Gold continues to stay under pressure following a mild recovery in the previous session tracking dollar movement. Meanwhile investors focus has shifted to Fridays speech by Fed Chairman Jerome Powell at the Kansas City Feds symposium in Jackson Hole for further cues. The dollar index that measures the greenback against a basket of currencies is quoting higher at 108.71, recovering from yesterdays low of 107. 99. Persistent fears of an economic slowdown and a hawkish fed have underpinned bounce back in dollar and benchmark treasury yields above 3% weighing down demand for the bullion. Gold futures are currently quoting lower by 0.20% at $1757.75 an ounce. Powered by Commodity Insights